Monday 1 December 2014

Buy-to-let deal of the week: 1 bed flat in Chichester, £129,950, 5.8% yield

Whilst it's true I prefer houses over flats for investment, there are occasions when I spot a flat and think it would make a good buy-to-let.

Plus, several people have asked me to suggest a few more flats that fall at the lower end of the price scale, so I'm more than happy to oblige.

This one-bed flat is in the central location of Westgate, just a stones-throw to the West of Chichester's city centre. It's recently been reduced from £135,000 to £129,950 (a not insignificant 3.7% reduction) and I think it's safe to assume it could be bought for under £125,000 and thus avoid paying stamp duty.

It's already tenanted, so would come with minimal hassle, no void period and a decent £600 per month income (assuming the tenant you're lumbered with is a good one). This equates to a yield of 5.8% (based on £125,000), which is a strong return from a city centre apartment that, whilst compact, is already in excellent condition.

Be aware, of course, that as it's a flat it will come with service charges and ground rent to pay, along with an inherent profile of tenant that are likely to move more often; all of which would significantly reduce this attractive looking return (did I mention I prefer houses to flats?)

Full details can be found on Rightmove via the following link:

chichester buy to let flat front

chichester buy to let flat kitchen

chichester buy to let flat bedroom


If you are looking for an agent that is well-establishedprofessional and communicative in Chichester, then contact us to find out how we can get the best out of your investment property.

E-mail me on or call 01243 624 599.

Don't forget to visit the links below to view my previous buy-to-let deals and Chichester Property News articles:

c/o CRJ Lettings, 30B Southgate, Chichester, West Sussex, PO19 1DP

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